Deals

A joint venture between UGL and UK company Cape has won a contract to provide services to the Woodside Petroleum-operated Karratha gas plant for an undisclosed sum.

The ownership of railways and stevedoring operations across Australia has been thrown into further doubt after logistics group Qube Holdings revealed plans for a break-up of Asciano, after teaming up with two big international investors to acquire a 19.9 per cent stake in the takeover target.

Norwegian company Yara International has moved to full ownership of the giant ammonia plant built by Pankaj Oswal in the Pilbara, paying a price that reflects the expected impact of higher gas prices in future.

Private equity group Auctus Chillagoe looks set to gain control of Atherton Resources, after major shareholders said they would vote in favour of the improved $56 million offer.

Local explorer Black Rock Mining has received firm commitments for a $5 million capital raising, including from an entity associated with its chairman, Stephen Copulos.

Engineering contractor Calibre Group has announced a radical restructuring that includes a partial buyout of minority shareholders, delisting from the ASX, and the purchase of Sydney-based company Diona for $45 million.

Uranium hopeful Bannerman Resources is looking to take full ownership of the Etango project in Africa and become debt free, through a deal with its two major shareholders.

Local explorers Burey Gold and Excelsior Gold a raising a combined $6.7 million to fund ongoing work at their respective gold projects.

MZI Resources will raise up to $45 million to repay loans and fund ongoing work, as its Keysbrook mineral sands project moves into production.

Oil and gas company AWE has sold its stake in the Cliff Head offshore oil project to Elixir Petroleum, for an upfront payment of $1 million.

Aspen Group’s battle for ownership of Aspen Parks Property Fund has intensified, after Discovery Holiday Parks put forward a $135 million takeover offer for the business.

Metals X’s $82 million takeover offer for embattled copper miner Aditya Birla Minerals won’t succeed after the target’s largest shareholder said it wouldn’t be accepting the offer.

Australia’s competition watchdog believes the planned global merger of oilfield services companies Halliburton and Baker Hughes could give the combined group, and current market leader Schlumberger, too much power.

A consortium including Programmed Maintenance Services has been named the preferred bidder for the ACT’s $150 million Law Courts Public Private Partnership, while the state government has signed a contract for Western Australia’s first schools PPP.

Oil and gas producers Drillsearch Energy and Beach Energy plan to create a $1.2 billion company with the backing of major shareholder Kerry Stokes.

Subiaco-based Nemex Resources has abandoned plans to wholly acquire Wavefront Biometric Technologies, but will instead raise capital and secure a majority stake in the target.

Local explorer RNI has sold its shareholding in Metals X for $23.4 million to pay off all its debt and fund new drilling work on its copper tenements in the Bryah Basin.

The competition watchdog has given pay-TV giant Foxtel the thumbs up in its attempt to buy up to 15 per cent of Network Ten television.

Shares in Santos have jumped after the struggling energy giant revealed it has rejected a $7.1 billion takeover bid this week.

South African fishing company Sea Harvest Group has committed to take its maximum possible entitlement under a planned $16 million-plus capital raising by Perth company Style.

Investors have welcomed news that engineering and contracting firm Monadelphous Group has teamed up with a family-owned company in the US to target work in the shale gas industry.

The competition watchdog has raised concerns regarding Automotive Holdings Group’s $43 million sale of its Covs Parts business to GPC Asia Pacific, which already operates the Repco chain.

The Di Latte family has cancelled plans to buy all the shares it doesn’t own in Diploma Group and privatise the business.

Regenerative medicine company Avita Medical has raised $10 million from investors to support the commercialisation of its ReCell device, which is being trialled by a US government agency.

Brisbane-based Suncorp Bank is calling time on its sponsorship deal with Perth Arena, making it the first corporate partner to withdraw support since signing with the facility at its 2012 opening.

Belmont-based Swift Networks is seeking an ASX listing by entering into a heads of agreement with Stanfield Funds Management, while Stanfield has dropped plans to acquire Singapore-based tech firm Sprooki.

A proposed acquisition of tech entrepreneur Justin Miller’s company, Nuheara, by Wild Acre Metals has hit a major roadblock after concerns were raised by the corporate watchdog.

Crescent Capital Investments has sweetened its takeover offer for infrastructure services group Cardno, boosting the deal to $3.45 per share, one week after competitor Coffey announced a friendly takeover deal with global player Tetra Tech.

Phoenix Gold has reiterated shareholders should reject a cash and scrip takeover offer from Evolution Mining, even though a rise in Evolution’s share price has boosted the value of the deal.

Perth company Metals X has made a surprise takeover offer for embattled copper miner Aditya Birla Minerals, in a bid which values the target at about $86 million.

Geospatial company Spookfish has raised $6 million from investors to fund development of its next generation technology.

Perth-based vehicle retailer Automotive Holdings Group has announced plans to acquire distribution rights for Higer buses in Australia off the current distributor, which is in administration.